The Variable Rate War is Heating Up

The Variable Rate War is Heating Up

“Mortgage shoppers looking to get a variable rate are in luck. The country’s biggest banks are currently slashing rates and clamouring for their business,” states a report by Canadian Mortgage Trends. You can (and should) read the full article here. So what does this mean? With the 5-year rates increasing due to the Bond Yields strengthening, the banks have turned their sights on the Variable Rate Mortgages to compete for your business. They are now as low as 1.00% below prime, making them extremely desirable, even if prime moves up another .25% to .50% more to top out. The Opportunity for our Clients Sitting at 0.10% – 0.45% Below Prime: We have done the numbers and it...

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Steve’s ‘Really Real’ Real Estate Update

Steve’s ‘Really Real’ Real Estate Update

Lately I find myself watching the real estate market like a hawk – our mandate at the Personal Mortgage Group is always to stay current on the driving forces in the real estate market – but right now I have a personal stake in what’s happening.  My wife...
Rates: What Goes Up Must Come Down

Rates: What Goes Up Must Come Down

Rates: What goes up must come down. Or “how I learned to stopped worrying and love the uncertainty” In the past, the simplest way to predict what the Bank of Canada (BoC) would do with it’s key lending rate – y’know, the one that effects the cost of our credit cards,...
Housing Market Update.  Are the Prices (sky) Falling?

Housing Market Update. Are the Prices (sky) Falling?

Is the sky falling on home prices in the first quarter of 2018?  Can pigs actually fly?  Well, we do know one thing – we have the data to help us understand the housing market. We should point out that the first quarter of 2017 (January, February and March 2017)...
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